The digital currency, Stellar Lumens (XLM), has re-established itself as the top performer amongst the 100 largest cryptocurrencies by market value, experiencing a 24-hour surge of nearly a quarter of its value. Stellar’s shining performance occurred concurrently with similarly encouraging trends in other altcoins, including Optimism (OP), XRP (XRP), Maker (MKR), and BitDAO (BIT), offering a general uplift to the crypto market. Despite this commendable run, XLM’s value remains short of its recent high of $0.20. Despite this, it’s clear that the bulls remain undeterred, as evidence by the increased trading volume of XLM, with nearly $700 million worth being transacted.
However, the commendable performance of the cryptocurrency market paints only half the picture. Noteworthy is Stellar‘s recent alliance with Fonbnk, intending to convert the 8 billion active prepaid SIM cards worldwide into virtual debit cards. Aiding Africa’s estimated 350 million unbanked population, the joint project will allow users to load prepaid airtime credits onto Fonbnk wallets, converting them into tokens named MIN, and finally, USD Coin (USDC).
Predicting the trajectory of Stellar Lumens (XLM) stands challenging, yet the coin appears to exhibit robust technical fundamentals. Beyond its major moving averages, Stellar Lumens has also broken past significant resistance barriers, signaling a powerful bullish trend. If this trend continues, XLM is predicted to hit its next significant resistance range between $0.237 and $0.248, possibly leading to an additional 50% gain.
In the world of crypto investments, diversification remains key. Many investors might find value in crypto presale events, where tokens from budding crypto projects are bought to fuel their development. Despite the high risks associated with such investments, historical data has shown enormous potential gains for early investors with the right amount of due diligence and market insight.
Investors must always tread with caution and complement their options with thorough research, remaining aware of the risk/reward ratio in their investment portfolios. Presale endeavors typically offer unique opportunities but are not free from unforseen pitfalls. We hope that our continuous analysis and revisions on these subjects equips our readers with a wider perspective as they navigate the ever-changing crypto-sphere.
Disclaimer: This article is not intended to provide financial advice. It serves only to provide insights and presents an overview of the industry. Always consult with a financial advisor before making investment decisions.
Source: Cryptonews
